Macquarie Reiterates Outperform Rating for CrowdStrike (NASDAQ:CRWD)

Posted by on Apr 8th, 2023

CrowdStrike (NASDAQ:CRWD – Get Rating)‘s stock had its “outperform” rating reaffirmed by investment analysts at Macquarie in a research note issued to investors on Thursday, Benzinga reports. They currently have a $180.00 price objective on the stock. Macquarie’s price target would indicate a potential upside of 40.82% from the company’s current price.

A number of other equities research analysts have also issued reports on CRWD. Barclays cut their target price on CrowdStrike from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup upped their price target on shares of CrowdStrike from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, March 8th. Scotiabank assumed coverage on shares of CrowdStrike in a research report on Wednesday, January 18th. They set an “outperform” rating and a $132.00 price objective on the stock. Royal Bank of Canada upped their price target on CrowdStrike from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC increased their price objective on CrowdStrike from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and thirty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $172.38.

CrowdStrike Price Performance

NASDAQ CRWD opened at $127.82 on Thursday. CrowdStrike has a 1 year low of $92.25 and a 1 year high of $242.00. The business’s fifty day moving average is $122.57 and its two-hundred day moving average is $128.46. The stock has a market capitalization of $30.15 billion, a P/E ratio of -161.80 and a beta of 1.04. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.73 and a current ratio of 1.73.

Insider Activity at CrowdStrike

In other CrowdStrike news, CEO George Kurtz sold 58,720 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $134.75, for a total value of $7,912,520.00. Following the sale, the chief executive officer now owns 1,004,878 shares in the company, valued at $135,407,310.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Anurag Saha sold 845 shares of the business’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $131.85, for a total value of $111,413.25. Following the completion of the sale, the chief accounting officer now directly owns 32,456 shares in the company, valued at approximately $4,279,323.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurtz sold 58,720 shares of CrowdStrike stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $134.75, for a total value of $7,912,520.00. Following the sale, the chief executive officer now directly owns 1,004,878 shares of the company’s stock, valued at approximately $135,407,310.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,568 shares of company stock valued at $12,663,171. 6.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its position in shares of CrowdStrike by 2.6% in the third quarter. Victory Capital Management Inc. now owns 338,421 shares of the company’s stock valued at $55,775,000 after buying an additional 8,560 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of CrowdStrike in the third quarter worth about $32,000. ARK Investment Management LLC grew its holdings in shares of CrowdStrike by 39.9% during the 4th quarter. ARK Investment Management LLC now owns 116,495 shares of the company’s stock valued at $12,266,000 after purchasing an additional 33,210 shares during the last quarter. Mutual Advisors LLC increased its position in CrowdStrike by 2.2% during the 4th quarter. Mutual Advisors LLC now owns 10,795 shares of the company’s stock worth $1,137,000 after purchasing an additional 236 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in CrowdStrike by 1.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 15,686 shares of the company’s stock valued at $2,197,000 after buying an additional 212 shares in the last quarter. 65.05% of the stock is owned by institutional investors.

About CrowdStrike

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CrowdStrike Holdings, Inc provides cybersecurity products and services to stop breaches. It offers cloud-delivered protection across endpoints, cloud workloads, identity and data, and threat intelligence, managed security services, IT operations management, threat hunting, Zero Trust identity protection, and log management.

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Analyst Recommendations for CrowdStrike (NASDAQ:CRWD)

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